MiningNetwork is an NFT play-to-earn mining game living on the WAX ??blockchain. Shortly after its launch, MiningNetwork has ranked top 3 on the DappRadar ranking board, becoming one of the most played NFT games in the Wax ecosystem over the past 30 days.
- MiningNetwork’s gameplay combines free-to-play and play-to-earn models.
- In essence, MiningNetwork is a game that mimics the mining process of miner machines.
- Players can stake their ASIC NFT and start earning rewards called “shares”.
- Then players can sell those shares in exchange for the in-game token, BITCAKE (BTK).
- Notably, MiningNetwork has recorded over 800,000 users, 24 million transactions, and a trading volume of 460,711 in WAX over the 30 days.
The current bearish trend in the crypto industry may persist for some time, but blockchain gaming seems to be the most resisting sector to the turmoil. According to DappRadar Industry Report May Edition, the number of daily unique active wallets that interacted with gaming dapps decreased only by 5% and transaction volume by 6.5% (measured in token value) compared to April.
Perhaps, immersing oneself in the games is a better way to numb the pain, especially when it brings players profit. Launched later in May, MiningNetwork, an NFT game on the Wax blockchain, witnessed a dramatic increase in user numbers, restoring over 800,000 unique wallets over the last 30 days. This game had even surpassed Alien Worlds, Wax’s hottest dapp in the Wax ecosystem for a certain period.
What is MiningNetwork, and how to play it?
MiningNetwork is an NFT-based mining game built on the WAX ??blockchain. The gameplay combines free-to-play and play-to-earn models, allowing users to earn rewards from staking the NFTs. Moreover, the game implements unique visual elements that remind players of those arcade games in the 90s, but with a touch of modernity.
The gameplay of MiningNetwork is pretty simple and straightforward, but it can get quite addictive. In essence, MiningNetwork is a game that mimics the mining process of miner machines, in which users acquire ASIC NFTs to start mining the in-game rewards. The free-to-play mechanic grants each user a free NFT to start playing and earning the rewards once after registration.
It’s worth mentioning that users can log in to the dapp with their Wax wallets. For those who haven’t created a Wax wallet yet, the step-by-step video tutorial below will guide users through the procedure.
Most importantly, having a Wax wallet also allows users to explore a wide range of play-to-earn games on Wax, such as Alien Worlds, Farmers Worlds, and Blockchain Brawlers.
The P2E mechanics explained
Now let’s take a closer look at the play-to-earn part. The primary goal of this game is to collect the rewards as much as possible. To start mining, players need at least one ASIC NFT and can simply use the free one dropped by MiningNetwork. Next, users click on the stake button, approve the transaction, and the mining will start right away. After a few minutes, players will be able to see “shares” distributed to their accounts. That simple? Yes!
However, to earn bigger shares, players need to upgrade ASICs’ level and thus the mining power. How to do so? Users can spend some BTKs on upgrading their ASICs to achieve a higher level of mining power. Additionally, buying more ASICs directly from Wax’s NFT marketplace, AtomicHub, can also gain mining power. This approach aims to expand the mining scale.
Once players have earned a significant number of shares, they can sell these shares for BTK tokens. In the future, BTK will be listed on exchanges, which means users can sell them for other cryptocurrencies.
Final thoughts
Impressively, MiningNetwork has recorded over 800,000 users, 24 million transactions, and a trading volume of 460,711 in WAX over the 30 days. MiningNetwork’s rapid rise in popularity is probably due to its free-to-play mechanic, which allows everyone to start earning at almost zero cost. Moreover, the easy-to-understand gameplay largely lowers the entry barrier for users, potentially allowing the game to expand to a broader audience.
DappRadar will continue monitoring the latest developments of MiningNetwork, Wax, and the play-to-earn field. Follow us on Twitter, Discord, and Youtube to keep up with the dynamic blockchain world.
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